Image of representation | Image source: Reuters
The Alliance Government has begun to use Rs 10,103.38 crore of edible oil-fuel oil (NMEO-OS) to increase domestic oil production to 70 million tons in 2030-31, from the current 39 million tons, Minister of Consumer and Public Transactions, Food and Public Transactions and Public Distribution, Nimuben Jayantibhai Bambhaniay parlia says parlia says.
In response to a question posed by Nellore MP Vemireddy Prabhakar Reddy, Ms. Bambhaniya said, “Around 57% of edible oil requirement is met through imports as the domestic production is unable to meet the demand. The NMEO-OS aims to enhance the production of key primary oilseed crops such as rapide-mustard, groundnut, soyabean, sunflower and sesamum, as well as increasing its collection and secondary source extraction efficiency.”
In addition, the government has initiated NMEO-OIL PALM to promote oil palm cultivation to enable the country to self-reliance in edible oils, with a focus on the Northeast state. The mission will bring 650,000 hectares of land under the oil palm plantation.
To support oil seed farmers, the basic customs duties (BCD) for crude oil, crude oil, crude oil and crude oil sunflower seed oil has risen to 20%, bringing the effective obligation of crude oil to 27.5%. In addition, since September 2024, BCD’s refined palm oil, refined sunflower seed oil and refined soybean oil have increased from 12.5% to 32.5%.
publishing – March 27, 2025 08:03 AM IST
